Mitsubishi Chemical to acquire Gelest
Mitsubishi Chemical to bolster technology with American organic and inorganic hybrid chemicals manufacturer
Mitsubishi Chemical Corporation in Tokyo has announced an agreement for its American subsidiary to acquire all of the issued and outstanding shares of the US chemical company Gelest Intermediate Holdings.
Gelest is a manufacturer and supplier of silicones, organosilanes, metal-organics, and specialty monomers for medical devices, life sciences, microelectronics, and personal care. It is owned by the New York-based investment firm New Mountain Capital.
"We are excited to acquire Gelest as its business fits well within MCC's long-term strategy," said Steve Yurich, president of Mitsubishi Chemical America, MCA. "Since becoming familiar with Gelest, we have recognised the tremendous capabilities in research and development and production that help create its outstanding position with key customers. Furthermore, MCC's operating resources and customer network will enhance the ability to bring Gelest's technologies to market and accelerate the development of new customer solutions to drive advances in digital social infrastructure, vision care, and other life-sciences applications. We look forward to working alongside the team at Gelest to drive the continued growth of the company."
"We are extremely proud of the efforts of everyone who has contributed to make Gelest the Company that it is today, with world-class technology and supply capabilities, made possible by the industry leading team we have built and support from NMC for our strategic investment programs. This has made Gelest an extremely valuable partner to customers around the world," said Barry Arkles, Chairman and CTO of Gelest. Ken Gayer, CEO of Gelest, added, "We are excited to join MCC during our next stage of growth. MCC's breadth and depth in the advanced materials sector will allow Gelest to create even more value for our customers and opportunities for our employees."
"Since partnering with Gelest in 2017, we have been extremely impressed by the management team and Gelest's ability to innovate continuously to serve the evolving needs of its demanding customers," said Andre Moura, Managing Director at NMC and lead director of Gelest. "We are proud to have supported Gelest's execution of an organic and inorganic growth strategy, and we thank everyone at Gelest for an exceptional partnership."
MCC will continue to execute its strategy of enhancing its technology platform, leveraging its extensive R&D capabilities and pursuing new business development opportunities in new markets to drive further expansion in the future.